 Okay, our second guest is Dr. Chinwike Uba, a financial analyst and chairman of Maka Chinwike Uba Foundation. Good morning and welcome to the program, sir. Mr. Uba, good morning and welcome to the program. Good morning. Okay, all right. We are having some kind of deja vu moment, just like in 1984, which is coincidentally in Buhari's first coming as it is, redesigning the Naira. Now it's going to be done this year again, and we're going to start using the new Naira nodes in the middle of December and in January. Do you think this is a priority for us that we should take at this moment? I think it will not be appropriate to ask whether it is a priority or not, because we have other very important challenges facing the country in terms of what we need funding for Naira nodes. But beyond that, it is also important to look at it from the perspective of what is going to achieve and what is not going to achieve. In terms of what is going to achieve, the CEO and the governor did say that the major purpose is to ensure that we will bring in funds that are outside the banking sector into the financial institution sector and address the issue of ransom, paying, and not rest of it all. Good, but the other person is at what cost? So in terms of whether it is important at this moment, while we say the timing is relatively not the best of the time to do this, that's where we are in terms of the need for money for more challenging things facing the national at this time in our life. Well, but it is said that this redesigning or printing of new nodes or something like that should be done like in every five years. It has not been done for like 10 years or more. So some might say it is justified. But another question, like you said, is the cost. And even the cost of printing Naira nodes is very staggering because it's not long ago. We saw the CBN saying that it used 58.6 billion Naira to print 2.5 billion Naira nodes that amounted to 1. something trillion Naira. Is it really worth it to spend that amount of money, especially at a time when we're neck deep in debt? That's the point I tried to make earlier. The timing is not the most appropriate. Now we have a lot of financial challenges, neck deep in debt. With a few hundred years of future inflation and where it is, and the standard of late night is lower standard. I think that money, the fund that will be expanded to printing new nodes will also be used to address fundamental issues. That will help us also to deal with other macroeconomic issues. As you know, exchange rate has been so volatile just because of our productivity level in location by low espaces that has also reduced our income. So if such funds are deployed to creating a labelling environment and supporting businesses and individuals that will lead to increased productivity in the economy. That would have helped us to address some very fundamental problems that we're having such as increasing unemployment, poverty level. And even the security challenges that we have, which partly is a function of the level of unemployment that we have for an address for free. So in terms of whether the fund, the expense is ideal, as I said earlier, the timing is not the most appropriate. Such funds would have been deployed to more important aspects of our lives. Okay, the government is saying, according to the governor of the central bank of Nigeria that, like you mentioned, hoarding of two trillion Naira out of the three trillion Naira in circulation. So that means that money is kept in private homes, not banks. They also say aging of Naira notes is another factor, security issues for ransom payment by kidnappers, monetary policy of recycling bank notes every five years, like I mentioned before, not recycled for 10 years now, and fake notes in circulation among others. First of all, do you believe that two trillion is in houses instead of in banks? And if you do, why do you think that is? I don't have the, I'm not one of the secretaries, I'm not the C-B-N-GOT one. That means that it definitely storing funds in their tanks in their homes on that address and not that. So and we know that there are, some statisticians also show that most Nigeria has got two Naira out of five hundred Naira, I don't know, I don't know. These guys who actually have a way of bringing these funds into the banking sector, in fact the only good bank, the banks would go to their respective homes to pick these funds. And I've seen that this redesigning is completed, they'll see we draw the funds. So I think what C-B-N-G should be more interested in is to find a way to increase electronic banking. Because just last night I did a transfer to an account at about 6.35 p.m. in the evening. That money has not gotten to the response account as I'm speaking with you now. Which is also half of the reasons why people are keeping their monies at home, or wherever, not rest of it though, even though it's not justified. But the truth is that we have a lot of funds sitting in people's homes. And now if he sees that, and now that, that plan, the business also to recycle it to those who need the funds for more important things. So it's a good thing that for me, as I said earlier on, the timing is not the most appropriate, given the need that we have as a country now. But how would you rate the performances of the banking sector? For instance, how would you rate the level of service to the people? A lot of people, for instance, maybe because we are not very aware, see some of the charges of banks as being unnecessary. Sometimes you have a savings account and instead of getting something on your savings account, you end up losing because of bank charges. A ATM card, a maintenance, a bank maintenance. What kind of charges have we not seen? So how would you rate the services of the banking sector against the confidence that people have or do not have in the banking system? Well, how would you rate it 50%? 50%? So a witness in the regulatory agencies here, you see here, this is our own evidence track. And that is a means of making more funds. And you see some charges that you can't really trace. You know, it comes back to who could stay in the bank. Now on that. Unfortunately, like I said, there is so much to do, a lot to address some of these issues. I just spoke about the transfer of DBSC there, which are this money that sometimes I'm speaking with you that has not gotten to the representative accounts. How would you encourage financial penetration and confidence in the customers in the banking sector? Not to keep the bank, when they are not sure. But what you are having is to meet their requirements and expectations. So those are the issues. So we think that it's just 50%. And there's a whole lot that needs to be done to address those kinds of issues. Okay, we'd like to thank you, Mr. Ubar, for coming on our show today and sharing your thoughts on this new thing that is coming up, redesigning of the Naira. We do hope that you are going to join us any other time that we have need to explain more on what is happening in the financial sector. Thank you very much for being a part of the show. Thank you. Ladies and gentlemen, we are going to take a short break. When we return, we return with the news. And after the news, we'll meet our final guest, who is a young entrepreneur. And we use people of this ilk to just encourage you and tell you that no matter how young, you can be a success story to yourself and your society. Stay with us.